Two women shop at a supermarket in Tianjin. The retired tend to eat less. In the rich world, the elderly spend 25 per cent less on the things they typically consumed before, but more on health care and their families. Photo: Bloomberg

As China ages, will its economy shrink?

Graeme Maxton believes complex changes in people’s spending patterns, unpredictable in the aggregate, will have huge implications economically, politically and socially

Topic |   Ageing society

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Two women shop at a supermarket in Tianjin. The retired tend to eat less. In the rich world, the elderly spend 25 per cent less on the things they typically consumed before, but more on health care and their families. Photo: Bloomberg
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